Genius Group Limited (GNS) has announced a rights offering valued at $33 million, aimed at significantly boosting its Bitcoin reserves.
As of January 24, 2025, shareholders are entitled to one transferable right per share, allowing them to purchase additional shares at $0.50 each. The offering is set to conclude on February 14, 2025.
The funds raised will be exclusively allocated to expanding the company's Bitcoin Treasury. With this initiative, Genius Group aims to increase its Bitcoin holdings from $35 million to $86 million, accompanied by further financing efforts. Founder and CEO Roger Hamilton intends to acquire an additional 500,000 shares and will fully subscribe to his entitlement of rights.
The rights will be traded under the ticker "GNS RTWI" beginning January 23, 2025, and will switch to "GNS RT" from January 27, 2025, until February 13, 2025.
This strategic move highlights Genius Group's commitment to integrating Bitcoin into its operations and pursuing financial innovation.
GNS is currently valued at $0.6151 on the New York Stock Exchange, reflecting an increase of 3.01%.
